Jarsy is doing two things: on one hand, it's providing more use cases for stablecoins and building a global investor community; on the other hand, it's accelerating the on-chain circulation of corporate equity, which is the type of RWA asset most likely to see rapid growth after the dollar and U.S. Treasury bonds. Someone in the community asked, why would top companies like SpaceX and Stripe need shareholders like Jarsy? I think this question is backward. It's not that these companies need Jarsy as a shareholder, but rather that there are countless individuals and small institutions worldwide who want to invest in companies like SpaceX and Stripe before their IPOs. At the same time, some early investors also hope to exit at the right time, rather than waiting until after the IPO. This strong demand has been ongoing for over a decade, and Jarsy is leveraging the liquidity of global stablecoins to revisit this concept. Operationally, Jarsy is very different from Robinhood or xStocks. The latter tokenize freely circulating public U.S. stocks and move them on-chain, while Jarsy dives deep into the venture capital market, communicating with companies and early-stage investment institutions to acquire equity in high-quality startups and then tokenize it. In this process, Jarsy is becoming a new species in the venture capital market — to companies, it's an alternative investment institution (integrating tens of thousands of global retail investors); to early investors, it's an alternative exit strategy (a fund). When Nasdaq eventually starts offering tokenized securities, tokenization of secondary market stocks will no longer be scarce. However, tokenization of non-standardized equity in the primary market will still have certain barriers. To put it bluntly, Jarsy is using various relationships and channels to stockpile (source) equity in pre-IPO companies, essentially opening a "boutique shop" for startup equity and selling it to global retail investors. As these young people gather on Jarsy because of stablecoins, forming an effective global financial community, the boutique shop could eventually move upstream and start doing "group buys." Stablecoins will take root in many industries and scenarios, and the extension of primary market equity into secondary markets, as represented by Jarsy, is just one example.